The last time we were in Philly, it was Al Gore as nominee. At the time, The New Republic, the intellectual rag that I subscribed to for years (until publisher Martin Peretz claimed Madeline Albright was an anti-Semite), featured an article about how poor Philly was compared to the rest of the country and all under more than 40 years of Democrats in control. As a democrat, I was appalled at the statistics. In the end I voted for Bush. Al Gore was the consummate liar then and I had had enough. I know I know, my bad. At least I voted for Kerry and then wrote myself in during our gubernatorial race with fatty but that's another story.
Fast forward, 16 years in fact, another democratic convention with Philly mired in scandal after scandal all seemingly involving the power brokering jackasses. This time around I will not be pushed from my democratic mantel, I support Hill all the way. But it's time to do something about the history of greed that belie our party's fundamental value of "we the people". And that my friends can only be done by instituting Term Limits around the country. There are simply no checks and balances when only one party (or in Congress's case: one individual) remains in control for far too long.
Wake up America. Vote for real Change.
Give everyone a chance to govern. That is after all what our founding fathers had in mind. No doubt they will be walking among us in Philadelphia this Convention. So stop embarrassing me.
Bush, Obama and Clinton (God help us all if a Trump) only have two terms. If it's good enough for them then it's good enough for all politicians.
The votes won't be fully counted for a few more hours but it isn't looking good for remaining.
I for one am not surprised considering all the mammyjamming yammers claiming it will never happen. There is no shortage of stupid and you can't fix stupid.
The grand European experiment will soon be dead. Rightfully so if you ask me. Bunch of cut and run phonys. Times are good everybody happy. Crisis hits and everyone heads for the lifeboats.
Great Britain is the worst offender. Getting concessions to join by not fully joining and then abandoning ship when things go awry and they have to pony up. We Americans know what it's like to be the bold and the brave. We may not do it well but we do it and we usually stay till the bitter end.
France, Italy, Spain, Greece and Ireland will likely be next with Germany hopping on board now that it's been making nice with Putin again. Bedfellows never tire.
Somewhere down the road, after the dust settles and the shit really starts to sting, they will all come begging the US to help them.
China announced .25 basis rate cut to stimulate its sleeping dog economy. Have to feed the dog or it will bite you.
So...Indices went ballistic at 7am.
Worst is over??
Not according to Russell my brother. If he doesn't get with the program no telling what will happen. Draghis commitment yesterday to increase bond purchases gave markets around the globe a much needed boost. AMZN GOOG had awesome earnings and FB went well above $100 after the close.
But Russell is not even close to its 200ma. He must get back up to $120 level before I'm convinced.
Shorted VRX $117.43
Out at $114.43
Long ES at the $64
Out at $70.25 for a nice trade today.
CL was a little choppy with a narrow range but managed to get $144.
It's a huge miss. Share price takes the hit from $149.22 dropped to $141.79.
Earnings today have been less than enthusiastic. Morgan Stanley reported dry as a hump earnings across all of its desks.
What does this tell us? Not much since the Fed trades in every asset class now. Central banks will raise rates a .25 basis point only to cut at the next meeting if conditions warrant. Fed lady Nester? said as much today. I say why bother raising then?
Consumer prices fall 0.2%. Deflation equates to QE cometh. These jokers are clueless. INFLATION came and went with the crisis, except for college costs which are inflated because professor dumbass is too fat. That train wreck is fast approaching unless they let us all declare bankruptcy for the university tax write off. A significant drop in wages will keep deflation on the table for a very long time. So get over it.
API crude inventories were through the rooftops at +9.3mil
Crude inventories out at 11:00am. Could go either way.
Chicago is bankrupt. Illinois needs to throw in the towel with pensioners. Pensioners don't get it: tax payers and bond holders pay your nut. So stop whining and accept the haircut like the rest of your citizenry.
Admittedly, I am casting my vote for Hillary regardless of the debates or anything else. I supported her not Obama, but voted accordingly when push came to the shoving.
For months I have been surprised at Sanders' resonance with the voters. Until last nights debate, I was beginning to think I'd have to live with Trump. A non politician may not be so bad in the end, but Trump? Come on.
Flash forward to the democratic debate and my fears have been happily crushed. Bernie was great and his stance on no more emails and Behngazi solidified my hope in the democratic process.
But Hillary was greater and the only "person" in the nation who can lead us into the next cycle of the unknown of so many fronts. She was clear, concise and commanding on all issues. Her performance should have put the fear back in the pubbys living room.
If Biden enters the race I will not vote for him. He had his chance when he was caught plagiarizing in college. Hillary is due and deserves democrats undying support for all the crap she has had to endure. She's earned it.
Bernie is compelling if only because he's unwavering in his commitment to democratically held values at our core. But that's not who will get elected. It didn't elect Obama and it won't elect Bernie. Biden knows this which is why he's trying to weasel in this late in the game. Using his son's death has not gone unnoticed by this compatriot. I share his loss but I do not condone his chicanery with the political winds. Hillary supported the President and Vice President, gaffes and all. It's high time they both support her and ensure that the first black mans ascension is supplanted with another first: the first Madame President and the first First Man of this United States.